A glitch in Google has started showing the rate of Pakistani Rupee against US Dollar (USD to PKR) as Rs. 186.73 on 7 June 2023, which has caused mass confusion among people on the internet. However, the local currency has not recovered and it is only a glitch at Google’s end showing an incorrect exchange rate early on Wednesday.
It is pertinent to mention that Pakistan Rupee (PKR) closed at a record low of Rs. 286.56 against the US Dollar (USD) in the interbank market on 6 June 2023 (Tuesday), while the open market rate for the greenback stayed above Rs. 300.
The Pakistani Rupee has been constantly depreciating against the US Dollar (USD) as the country struggles with economic uncertainty and depleting foreign exchange reserves. Currently, the foreign reserves held by the State Bank of Pakistan (SBP) are almost $4 billion, while total foreign exchange reserves held by the country are just below $10 billion.
However, the people were left wondering about the rate of Pakistani Rupee against US Dollar (USD to PKR) due to a glitch at Google that showed the current rate at Rs. 186.73.